A bullish falling wedge pattern appeared on Dogecoin’s chart, and a breakout could allow it to retest its April highs.
Both Dogecoin’s weekly and daily charts were painted green.
Whales were dominant in the market, but a key indicator turned bearish.
As the market turned bullish, several cryptos showed commendable performance, and Dogecoin [DOGE] was one of them. In the meantime, AMBCrypto found a bullish pattern on the memecoin’s chart, which could soon result in yet another bull rally.
Dogecoin’s promising performance
CoinMarketCap’s data revealed that DOGE was among the handful of cryptos that managed to pain their weekly charts green as DOGE was up by over 2%. Things got even better in the past 24 hours as the world’s largest memecoin’s price surged by over 5%.
At the time of writing, DOGE was trading at $0.1096 with a market capitalization of more than $15.9 billion.
Thanks to the memecoin’s bull rally last week, its weighted sentiment remained in the positive zone for the majority of the days.
This meant that bullish sentiment around Dogecoin was dominant. Its social volume also remained relatively high last week, reflecting its popularity in the crypto space.
While DOGE’s price gained upward momentum, AMBCrypto found a bullish falling wedge pattern on its chart. The pattern emerged in April, and since then DOGE’s price has been consolidating inside it.
In case of a bullish breakout, DOGE might retouch its April high in the coming weeks